PS2 News: EA Stock on the Rise - PS2 News

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EA Stock on the Rise

According to a report issued today by Wedbush Morgan Securities, the outlook for Electronic Arts looks bright. Wedbush today changed its recommendation on EA stock from "hold" to "buy." The firm is expecting EA's current stock price of $47 and change to hit a mark some $10 higher within the next 12 months.

Wedbush Morgan outlined some compelling reasons for thinking so highly of EA's possibilities for growth: First, EA is returning to the world of Mature games with The Godfather (the company hasn't released a Mature-rated game since Global Operations in March of 2002). This acceptance that the audience for video games is old enough and mature enough to be able to purchase, play, and enjoy mature-themed games sets EA up to sell through to a more diverse market, a market that it hasn't been focusing on.

Wedbush analyst Michael Pachter added some speculative spice to the mix when he said in the report that "in addition to the catalysts expected from performance of [EA's] key games, we anticipate that Electronic Arts shares will trade higher when console prices are cut (expected as early as next week from Microsoft, and by mid- to late-April from Sony)."

3/15/2004 Aaron Thomas

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